Soaring Workforce Management Costs

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1 White Paper Soaring Workforce Management Costs Our mission is to harness combined power of domain knowledge, expert technology, and firm commitment to deliver intelligent and intuitive Software as a Service (SAAS) solutions. The lack of effective workforce management results in invisible costs that can affect a company s long-term growth prospects. Time lost due to a worker s tardiness, time-entry errors, and the opportunity cost of management s time to schedule and track employees may seem insignificant. However, when applied to the entire team, these small losses can turn into weeks and even months of lost productivity. The American Payroll Association estimates the annual cost of rounding, tardiness and early departures alone to be as high as 20 minutes per day per employee. With a work year of 260 days, this results in over 10 productive days lost in the course of a year per employee. With 20 employees, this number can grow to 200 days in a year. This results in lost productivity of almost an entire person for a year! 10 productive days are lost in the course of a year per employee Investing a company s strategic resources to start managing its workforce can be cost-prohibitive given what s required to do this, such as additional HR and information technology staff, purchasing additional hardware, and deploying as well as maintaining a workforce management solution. Furthermore, these costs may not scale well when a company decides to increase or decrease the size of its workforce. Eric Marks of ManagingAutomation.com has found that many companies don t realize until too much capital and time has been invested, that new internal tech initiatives have a way of becoming legacy applications capable of consuming 70-80% of IT budgets. These resources could be more strategically engaged in activities leading to future growth.

2 Web-based Technologies Reduce Costs And Empower Work Teams Companies, which use metrics to track their workforce are able to gain an edge over the competition by identifying productivity problems more quickly and finding ways to employ their workers more efficiently. Being able to access real-time data at any time throughout the pay period or project life cycle helps managers control costs by finding which employees or projects are approaching overtime and acting accordingly. Software as a Service (SaaS) is the fastest growing method of software delivery. Over 25% of all products are expected to be delivered via SaaS by 2011 (Gartner Research). KnowledgeSum, Inc brings together over 30 years of management expertise and cutting edge technology to help organizations increase labor productivity and efficiency, while reducing non-strategic resource utilization. Our solutions are provided via KSum, a powerful suite of web-based solutions available to the client community. KSum products are delivered via Software as a Service (SaaS). SaaS is a software delivery method whereby a product vendor hosts the application and client companies securely access services using the Internet. Clients are able to use the product on a subscription basis based on the number of active users. KnowledgeSum takes on responsibility for all services including maintenance, upgrades, customizations, and customer support. With KnowledgeSum, all of the maintenance services are transparent to the client companies. According to Aberdeen Report SaaS delivers faster implementation rates and quicker return on investment than traditional enterprise software. Proportion of CIOs considering adopting SaaS applications in the coming year has gone from 38% a year ago to 61% based on McKinsey surveys. Human resources was identified as one of top industries for SaaS adoption by Software and Information Industry Association (SIIA). KnowledgeSum s software product platform has been utilized by thousands of employees in a wide range of settings since its launch in Page 2of 5

3 Access and Address Your Key Needs KnowledgeSum embraces key employee management areas within the human resources organization RELIABILITY RELIABILITY KnowledgeSum addresses the concern for data reliability and availability of a remotely accessed solution by hosting within redundant environment; in a facility connected to multiple Internet service providers and powered by several energy sources. SECURITY software products are deployed in a facility that exceeds the US Department of Defense standards for a Sensitive Compartmented Information Facility (SCIF). Numerous security measures are in place to protect both the data and the facility where the application is hosted. Multiple security profiles ensure that only company personnel with appropriate security clearance can access the secure environment where employee information is stored. SECURITY FLEXIBILITY multiple web-based timesheet formats and data collection devices fit every kind of workforce setting. FLEXIBILITY SUPPORT SUPPORT dedicated team skilled in core labor and employee management solutions is readily available throughout the entirety of a relationship. Client team counterparts gain comfort in working with SaaS vendor who understands their work patterns and helps ensure consistent performance. COST ACCOUNTABILITY COST a low monthly subscription fee includes full product functionality, support, and training. No installation, maintenance, or upgrades needed. No specialists to setup, configure, and manage the system. KnowledgeSum stays on top of the evolving needs of the labor management industry by continually and proactively integrating new features into the product offering to provide progressive solutions to clients. VISIBILITY ACCOUNTABILITY KnowledgeSum provides full audit trails and report accountability on every level of the organization SCALABILITY VISIBILITY fully customizable and exportable, real-time reports provide visual and quantitative information regarding workforce activity within the organization SCALABILITY companies can take advantage of KnowledgeSum s solutions with 20 employees or 10,000. Versatile deployment platform allows users to add or remove any number of employees based on need. Page 3of 5

4 Engage Every Level Of Your Organization EMPLOYEES Easy to use and intuitive products require minimal training Multiple Web-based timesheet formats and a wide range of data collection devices support on-site and off-site work patterns Time-off request functionality allows for the complete automation of the request and approval process Timesheet reports allow users to focus on past data and fine-tune performance Skill mapping and job preference allocation KnowledgeSum s solutions facilitate the business flow and boost productivity by engaging the client organization on every level MANAGERS Ability to schedule in minutes and take advantage of combing seasoned workers with new ones in multiple locations spanning multiple time periods Ability to track metrics that matter such as overtime, tardiness, and absences User-configurable notification system to stay on top of changes of interest Multiple approval profiles to take control of decision making Pre-population of common activities Fine-grained multi-level notes system documents communications between managers and reports Audit trail functionality for optimal accountability Powerful customizable and exportable reports provide real-time view of your workforce from multiple perspectives: current coverage, historical attendance, project views, and expected vs. actual performance Multiple security profiles ensure that sensitive information is available to the appropriate staff within the corporate organization while providing maximum usage flexibility DECISION MAKERS Reduce total cost of ownership (TCO) with no hardware to purchase and no software to install or maintain, saving IT time and costs Seamless integration with most payroll and accounting software Maintain high level data security within SCIF-grade data center Comply with newly established laws like Sarbanes-Oxley by ensuring that employee information is properly safeguarded and financial data is audited Save on capital investment with no license fee or annual maintenance fee Ensure clear cost visibility that is connected to active users and ability to grow/decrease teams organically Control your own information using applications where data is secure, autonomous and, extractable Page 4of 5

5 Use the Right Solution Make the most impact by selecting the right product for you from the three flagship KSum products: KSum Complete is comprehensive solution for a company with complex payroll needs. Supports fully customizable, multiple security profiles. Some of the best examples are companies with locations in multiple states or multiple subsidiaries, or companies with diverse work types manufacture/sales/r&d divisions/union labor. KSum Lite is a versatile product allowing users to get up and running quickly. The Lite product provides the same level of functionality as above but setup is simplified for companies that use uncomplicated rules and workflow. Ideal candidates are companies that contain similar types of workforce such as call centers, support centers, factory workers. KSum Schedule provides a powerful scheduling engine to schedule a workforce dynamically while taking into account multiple preset and custom criteria. Typical users are companies in healthcare, retail, catering, and other industries. If you are not sure which solution is optimal for your needs, you can always contact our team. Why KnowledgeSum We believe that in order to succeed a company needs to be able to focus its main energies on its core business. Our core business is building software products and providing services that allow companies to realize their visions. This means becoming your partner and nurturing our relationship to ensure your success by providing leading-edge products and exceptional support. Our long-term success it directly connected with our clients success and our efforts are wholly focused on making it a reality. Call one of our team members and schedule a personal web demo of the software. KnowledgeSum, Inc 726 Route 202 South Suite Bridgewater, NJ Phone: Toll-free for US callers: KSUM ( ) Fax: Page 5of 5

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